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News Breaks | | | | September 4, 2012 | | 06:49 EDT |  | SCMF | Southern Community acquisition by Capital Bank approved by Federal Reserve
Southern Community announced that the Board of Governors of the Federal Reserve System has approved the acquisition of Southern Community by Capital Bank Financial, formerly known as North American Financial Holdings, a North Carolina-based national bank holding company. Completion of the transaction is subject to the approval of Southern Community's shareholders and other customary closing conditions. If approved by the shareholders at the Special Meeting scheduled for September 19, the transaction is expected to be consummated shortly thereafter. | |
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